Mekong Delta shrimp prices fall as COVID-19 hits demand

Shrimp farmers in the Mekong Delta are facing difficulties after prices have plummeted due to falling global demand due to the COVID-19 pandemic. — Photo sggp.org.vn

MEKONG DELTA — Shrimp prices have plummeted in the Mekong Delta since global demand has been hit severely by the COVID-19 pandemic.

For instance, white leg shrimp of 100 shrimp per kilogramme size now cost VNĐ65,000 – 70,000 (US$2.74 - 2.95), around VNĐ20,000 – 25,000 less than a year ago.

The price of giant tiger shrimp in Cà Mau Province has decreased by VNĐ40,000 – 70,000 compared to just a week ago.

Châu Công Bằng, deputy director of the province Department of Agriculture and Rural Development department, said in the last 10 days the prices of shrimp are falling due to European markets being affected by the pandemic.

Many seafood exporters said their shrimp orders have fallen by 30 – 50 per cent, according to Sài Gòn Giải Phóng newspaper.

Farmers are being advised to stay calm, follow the latest developments and weather changes, sell their goods to distributors and traders who offer market prices and do not resort to panic selling.

Farmers who have completed their harvest are advised to consider carefully before beginning a new shrimp crop or temporarily switch to farming something else. — VNS